96 Sears, Kmart Locations Closing Nationwide

By R.J. Johnson - @rickerthewriterNov 8, 2019

Sears Files For Chapter 11 Bankruptcy Protection

The doors to more than one-third of the remaining Sears, Kmart stores will shuttered as the company that owns the two once-dominant retail-chain stores continues to shrink a little under a year after they went through bankruptcy.

Transformco, who acquired Sears Holding Company in February after their bankruptcy, announced Friday that 51 of its Sears stores and 45 Kmart locations across the country will be closed, leaving 182 stores remaining.

The decision to close the stores came as the company "faced a difficult retail environment and other challenges." The closings will help "position Transformco for success" allowing them to focus on their competitive strengths and reduce areas of their operation that are struggling.

The stores are expected to be closed by February 2020. Many locations will begin holding "Going Out of Business Sales beginning December 2nd, 2019.

“We will endeavor to create and deliver value through a strategic combination of our better performing retail stores and our service businesses, brands and other assets, and expect to realize a significant return on our extensive portfolio of owned and leased real estate. These assets include Innovel, which provides logistics solutions to businesses and consumers, Sears Home Services as well as Shop Your Way® and financial services, and our Kenmore® and DieHard brands. These businesses will also benefit from the recent acquisition by an affiliate of Transformco of Sears Hometown – a network of more than 400 independently-owned and operated, dealer-managed smaller-format stores that are known for offering customers a range of home products, including appliances, lawn & garden, tools and sporting goods,” Transformco officials said in a statement.